PhosAgro in negotiations with Indian consumers for long-term contracts
MOSCOW. June 18 (Interfax) - PhosAgro is in negotiations with Indian consumers to sign long-term contracts, PhosAgro's general director, Maxim Volkov, said during a conference call.
The price in the contracts will be tied to market quotations, he said.
The company signed a contract in April with India's Nagarjuna for supplying phosphorus fertilizers (DAP and complex fertilizers, NPK). According to the agreement, the general price for DAP for India is the price approved by PhosChem and Indian buyers. NPK prices will be calculated using the price for potash set by Belarus Potash Company (BPC, Uralkali and Belaruskali's trader) for the main Indian consumers. The contract foresees the supply of 600,000 tonnes of fertilizers by February 2013, as well as an option for the supply of another 400,000 tonnes of fertilizers.